The investment industry’s real ‘Big Three’

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Financial Times 11h ago

The investment industry’s real ‘Big Three’ - Financial Times

Quick Summary:

But today its single biggest fund is the $568bn Fidelity 500 Index Fund, which is the third biggest investment fund in the world.

Fidelity, for example, manages more capital than State Street (and even more capital in “passively managed” domestic equity mutual funds than State Street), yet it receives only a fraction of the attention of the Big Three.

But as FT Alphaville noted last year, State Street’s SPDR S&P 500 ETF Trust and BlackRock’s iShares Core S&P 500 ETF have been quietly leapfrogged by a late entrant in the index fund game: Fidelity.